Top Glove first-quarter earnings soar to RM129 million

Kuala Lumpur

WHILE the shrinking ringgit and economic slowdown have most companies leery of their prospects, Top Glove Corporation is looking forward to "a very good year ahead" after charting record earnings in the first quarter that were 46 per cent of the last full-year profits.

Shares in the glove maker jumped nearly 8 per cent to RM11.86 after it posted profits of RM129 million (S$42.1 million) for the first quarter to end November - 163 per cent higher year-on-year and a fourth more quarter-on-quarter.